Surge in number of young populations, change in taste preference of consumers that increased the demand for online food delivery services, and increase in disposable income have increased the growth of the global cloud kitchen market.
PORTLAND, Ore., June 21, 2022 /PRNewswire/ — Allied Market Research recently published a report,titled, “Cloud Kitchen Market by Type (Independent Cloud Kitchen, Commissary/Shared Kitchen, KitchenPods), by Product Type (Burger/Sandwich, Pizza, Pasta, Chicken, Seafood, Mexican/Asian Food, Others), by Nature (Franchised, Standalone) : Global Opportunity Analysis and Industry Forecast, 2020-2030”. As per the report, the global cloud kitchen industry was accounted for $29.4 billion in 2020, and is expected to reach $112.7 billion by 2030, growing at a CAGR of 13.12% from 2021 to 2030.
Drivers, restraints, and opportunities
Surge in number of young populations, change in taste preference of consumers that increased the demand for online food delivery services, and increase in disposable income have increased the growth of the global cloud kitchen market. However, health concerns regarding regular consumption of fast foods hinders the market. On the contrary, rise in demand for international cuisines such as pizzas and burgers would open new opportunities in the future.
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- Due to Covid-19 pandemic, all brick-and-mortar restaurants suffered losses. Moreover, the strict lockdown regulation prevented consumers from dining at restaurants.
- However, many conventional restaurants became cloud kitchen due to lockdown restrictions and increase in demand for online food delivery.
The franchised segment held the largest share
By nature, the franchised segment held the largest share in 2020, accounting for nearly three-fourths of the global cloud kitchen market, due to increase in trend of franchising among stakeholders as it helps in expansion of businesses and requires less capital. However, the standalone segment is expected to register the highest CAGR of 13.84% during the forecast period, as standalones specialize in preparing one or two main types of fast-food products that gain higher level of traction among consumers.
The independent cloud kitchen segment dominated the market
By type, the independent cloud kitchen segment held the lion’s share in 2020, contributing to around two-thirds of the global cloud kitchen market, due to increase in demand for international cuisines such as Thai food and Chinese food globally. However, the kitchenPods segment is estimated to manifest the highest CAGR of 14.62% from 2021 to 2030, due to its low operational cost and its eco-friendly offerings to reduce waste.
North America dominated the market
By region, the global cloud kitchen market across North America held the largest share in 2020, holding around two-fifths of the market, owing to well established and advanced technologies adopted by the food providers in the region. However, market across Asia-Pacific is expected to register the highest CAGR of 15.07% during the forecast period, due to rise in number of young populations in Asia-Pacificalong with change in taste preference of consumers.
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major market players
- Ghost Kitchen Orlando
- Kitopi Catering Services LLC
- Rebel Foods
- Starbucks Corporation
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